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List of zero percent credit cards and balance transfer offers

By Joe Taylor

When credit card issuers faced the 1-2 punch of an economic crisis and new regulations, it seemed like 0% introductory APR balance transfer offers landed on the endangered species list. Now that banks are flush with cash and ready to lend, it's time to start saving money by paying down debt with no interest.

Why balance transfer offers?

A few years ago, I loved making free money by requesting zero percent introductory APR balance transfer checks from new credit cards, then depositing them into high interest savings accounts until just before the point where I'd have to start paying interest. The banks must have gotten tired of giving me all that free cash, since those kinds of deals have completely disappeared. It's no longer profitable for banks to let consumers surf balances from card to card without a little friction. Therefore, even the best 0% introductory APR balance transfer deals require you to pay up to 5% as a flat fee.

Still, the balance transfer process has become easier than ever for consumers who really do need to save some money on their bills each month. You can use a balance transfer check to cover utility bills or an occasional car payment, then use my same trick to make a little of that money back at the end of the year. Instead of paying down that 0% introductory APR balance, park your payment in an online savings account or in a short-term CD. Even if your investment only nets a point or two, you're still making back some of the money you had to spend on your transfer fee.

To help you get started, I've put together a quick list of the very best zero percent introductory APR balance transfer offers on the market right now.

The choices were made after reviewing and balancing all terms and considerations such as length of 0% intro APR offer duration, whether any balance transfer fee applies, whether the 0% intro APR applies to purchases as well, and whether there are any additional rewards for purchases:

Slate from Chase The 0% introductory APR on balance transfers and purchases that lasts 15 months. And as an introductory offer no balance transfer fee on transfers made within 60 days of account opening. All other transfers: either $5 or 3% of the amount of each transfer, whichever is greater. In addition Chase supercharged this credit card with Blueprint, a set of online tools that help you budget your way out of debt.

Chase Freedom 0% introductory APR for 15 months on balance transfers and purchases, plus you can take advantage of a cash back bonus that puts $100 back in your wallet after you make $500 in purchases in your first 3 months from account opening. That could even cover the cost of the initial balance transfer fee, which is either $5 or 3% of the amount of each transfer, whichever is greater if you're clever enough.

Right now, a couple of the banks are letting cardholders surf balances with no balance transfer fee. Keep an eye out for the offers because the no balance transfer fee offers are primarily for a limited time. Otherwise, it's up to smaller, regional banks and credit unions to carry the no balance transfer fee banner for their local account holders.

In the meantime, you can take comfort in knowing that you've capped your first year interest to 3-5% with any of these cards. Just keep in mind that a handful of balance transfer offers may require you to make other purchases on your card to maintain your deal and free credit report. Whatever you do, remember to pay your monthly minimum payment on time or risk paying double-digit interest on your entire balance the following month.

BEWARE! Chase will not transfer the balance from another Chase card. This is not currently noted in the fine print on the application. Chase used to do this but not anymore. If you want to transfer the balance from a Chase card you will have to transfer it to a different credit card Company.

Also, once you open a credit card account it is noted on your credit report whether you cancel the card the day after opened or after 20 years so chose wisely. Call if you are not sure about the details.

Legend says:October 28, 2008 at 1:16 pm

The Chase Business Rebate card no longer has a maximum on balance transfer fees. Read the T&Cs carefully. It is a full 3%, unless I am missing something.

Sam says:November 13, 2008 at 9:04 am

The Discover more card does not have the cap of $75 towards transfer fees. Its a full 3% but the remaining terms are still there. Just did one yesterday and I'm trying to negotiate with them to cap it at $75 based on an article in CNNMoney.com which had the same offer that is listed here. Lets see if they do it.

Bill says:November 15, 2008 at 5:04 pm

I want the best personal use card that has 0% for 12mos for more for balance transfers with excellent credit and a cap on the tranfer.

Hortensa Dewalt says:November 18, 2008 at 4:19 pm

DaJobSucks thanks you for your participation in our weekly Business and Work from Home Blog Carnival. Sorry for posting the carnival a couple hours late, we will get it right next week.

Thanks again

Frank says:November 19, 2008 at 12:57 pm

BEWARE!!!!!!!! ---- I just got hit with a bait and switch from Advanta. I applied for 0% interest for 15 months from Advanta and they approved me for the 90 days no interest on new purchases. My fault for not reading the TandCs at the time of application but they transfered 11,000K of balances as I requested before I caught on. Now I am trying to move my money again so that I dont get stuck paying 16% on my balance transfer.

JIM says:December 7, 2008 at 12:54 am

ABOUT THE PROBLEM Frank, [11/19/08] had. I got a balance transfer from ADVANTA and was satisfied even though it was only for 9 months. I couldn't find one longer without a % fee for the entire amount. I really had some kind of a problem advantaging the initial payment and actually missed the first payment due to confusion of when the initial payment was due. I was allowed to continue without the offer being cancelled but then 4 months later became confused again and made a payment 2 days late. I had the payment set up automatically but it wasn't the entire amount. Then, without further notice, my 0 bal. offer was cancelled and they charged me a large fee for a late payment. I would say they are at least hard to get. I am disatisfied with their demeanor. Now I am in a bad situation of seeking another 0 balance transfer offer.

BalanceTransferFree says:January 2, 2009 at 3:09 am

Balance transfers can be a great way to save some money in interest but it is important to remember that it is best to never cancel or close down any of your credit cards after you complete the balance transfer because if you do so then you will "lose" the credit history of the canceled card(s) off of your credit score. Since your credit score is positively affected by the length of your credit score then you could cause damage to your credit score by closing down a credit card with a significant length of credit history (also, you could hurt your credit score because you are decreasing your amount of available credit).

Rack says:February 25, 2009 at 8:25 am

Hey. I was calling my cards to get a balance transfer at the lowest rate. Just a few grand I want to amoritze at a low rate. The first 2 operators denied that they could waive the 3% Bal Tran Fee (B**K of A****ica). First operator was from Asia, the next from down south somewhere, the third was normal young woman from the midwest, easiest to understand on the phone. she was able to give me 1.99% for 10 months with no bal tran fee.

Like Comcast, just keep calling, someone will do it...

indira says:March 11, 2009 at 10:52 am

I HAVE A CREDIT CARD WITH A BALANCE OF$10,000 AN APR.OF 23% IF YOU KNOW OF ANY OTHER CARD I CAN APPLY FOR WITH A LOWER APR PLEASE ADVICE.THE CARD I HAVE IS FROM BANK OF AMERICA.

Math says:April 14, 2009 at 4:14 am

Rack:

Assuming your B of A was for 12 months:

0% for 12 months with a 3%, uncapped balance transfer = 3% APR (if it was capped you most likely screwed yourself; but if you did it recently, it probably wasn't)

Your presumption you got a deal falls on being able to obtain a similar rate for the 11th and 12 months, which given the way things are going is unlikely.

You'll need at a minimum an 8% APR for months 11 and 12 of that year to break even with the 3% BT fee deal.

And maybe you can get it by 1st quarter 2010. I hope so for all of us. Things don't look good with the new credit changes coming up next year.

Need Help says:April 16, 2009 at 11:05 am

Can someone tell me if this is a good offer from the Discover More Card 0% for life on a balance transfers with a 3% balance transfer fee no cap. I have to purchase $50 a month starting in December. I would like to transfer over at $10,000 but I want to make sure this is a good deal. Any help is much appreciated.

Alex says:April 20, 2009 at 11:57 pm

Need Help--

It might be a good deal provided you don't have to pay back a large %age of the outstanding balance per month. Hard to believe they'd give you that rate for life, but if you can transfer $10,000 and pay back only 2% per month, it would take nearly 10 years before you got the balance under $1000 and a $20 minimum payment kicked in. That would give you a lot of time to earn interest on that money and make back your $300. If you could invest that money at a 2% APR, you'd make ~$700 in the first 9 years. Not a get rich quick scheme, but it has a positive NPV.

If they make you pay back 5% per month it may not work out so hot for you, because you'd end up paying it back fairly quickly and not have a chance to earn that interest.

Where did you find this deal? I might be interested.

--Alex

Stefen says:April 29, 2009 at 11:56 pm

I have a maxed out Visa Platinum card ($12,300) My interest rate on it is 10.5% I'm currently paying $340 a month min payment and Its killing me!
I've never done a balance transfer before and I have a excellent credit score. I'm looking for the best card to do a 0% balance transfer for 12 months. Thanks for your help!

DebbiePowers says:May 7, 2009 at 9:51 am

Are there any more balance transfer credit card offers offering 0% APR that happen to be Citibank or Bank of America Cards? The Citibank Platinum looks good at 12 months but are there any BofA ones? I guess Discover credit cards offer lots of balance transfer deals but not sure where they accept them these days if I decide to use them for purchases after the 0% balance transfer period ends.....hmmm

henry benjamin addo tagoe says:May 21, 2009 at 12:35 pm

i like a bank that will help me to pay my credit in the l/c form

Dave says:June 24, 2009 at 9:50 am

The discover card is 0% until December of 2009, not 12 months.

InkedMark says:June 28, 2009 at 2:30 pm

Hi,

I am trying to finance the purchase of a new laptop and not accumulate any interest. I read the blog on 0% interest credit cards and saw a link for the American Express "Clear" card and just wanted to know if anyone has had any experience with this card and if it is truly a 0% interest Amex card that allows you to make monthly payments instead of having to pay it in full like a tradtional Amex green card?

AMEX CLEAR says:June 29, 2009 at 9:38 am

Hey,

I have an AMEX Clear When I got it about a year ago I got 5.99% (Balance Transfer - For Life of Balance) and 11.24% on Purchases. Haven't used this card since so i am still taking full advantage of the 5.99%.

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Advertiser Disclosure: The credit card, charge card and prepaid card offers that appear on this site are from companies from which MoneyBlueBook.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This website does not review or include all card companies or all card offers available in the marketplace.

General Disclaimer: *See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the " Apply Now " button you can review the credit card terms and conditions on the credit card issuer's web site. Offers are subject to change without notice and the terms displayed may not be available to all consumers.

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